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Big Data Helping Industries and How

Big Data is more of less utilized by every industry. All departments in an organization can benefit from big data and its analytics. Cloud computing offers a robust environment to store the massive amounts of data generated daily by businesses. Moreover, it provides services for big data analytics, management and upkeep as well. All this enables a company to gain more insight into their operations, improve efficiency, increase productivity and even cut costs! This infographic explains the importance of big data and recent market trends related to it. It further goes on to talk about industries that use it the most and the use cases associated with each of them.

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Big Data Helping Industries and How

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  1. BIGDATA helping industries. EXPLAINS Industries are thriving with their use of cloud computing and its numerous resources. One such resource is big data. Big data offers storage and analysis of large datasets, highly beneficial to businesses. Within organizations there are several departments that make use of big data, such as: Finance, Marketing and even Human Resources! According to researchers, by 2023 the big data industry itself would be worth It has been forecasted that with the use of big data analytics the GDP of retail and manufacturing will increa- se to $325 billion! It is also estimated that through big data analytics productivity gains in healthcare and government service will reach a mark of $285 billion! Sources of business data that generates data to be analyzed: Operation - metrics that calculate the quality of business processes Finance - data about the financial health of the company Constituency - data regarding employees and partners Several industries are harnessing the power of big data. From sports to telecom, from healthcare to finance, the list is a long one. Here are some of the top industries and their use cases for big data. MANUFACTURING Demand forecasting Supply chain management Collaborative planning & design HEALTHCARE Genome mapping Real time medicare data Disease diagnosis BANKING RETAIL Risk management Real time fraud detection Real time global trade Brand perception Target segment identification Customer experience Data is being generated at such a rapid rate that it is estimat- ed that over 150 zettabytes will need analysis by 2025! Resources: https://www.dezyre.com/article/top-10-industries-using-big- data-and-121-companies-who-hire-hadoop-developers/69 https://kommandotech.com/statistics/big-data-statistics/

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